As the take up of direct EU funds by the local private sector is still largely unexploited, a project launched by the Malta Business Bureau ( MBB) aims at guiding small  and medium enterprises to apply for funding opportunities in areas such as creativity, training, research and development.

The low take up of funding is due to various reasons, with the most evident being a lack of knowledge and resources, and the MBB aims at addressing the issue through the Innovation Leaders Programme which will build and strengthen the capacity within enterprises to tap into direct EU funding themselves. The Bureau will inform businesses about policies and opportunities available and will assist SMEs in filling out applications and in preparation for the evaluation stage.

The training programme will run until June 2015, during which an average of 150 applicants from the private sector will submit 15 proposals under the Horizon 2020, Erasmus+ and Creative Europe streams. Horizon2020 is the biggest research and development scheme throughout the world. Last year, the European Union received 3,000 project proposals, of which 115 were chosen.

Addressing a press conference this morning, Parliamentary Secretary Ian Borg said that this initiative will provide the industry with a much needed bridge through which the industry’s capacity to develop can be boosted and funneled towards the appropriate contact points.

Participants will attend master class training by funding experts selected by the European Projects Association (EPA), and applicants will also carry out a training sessions with decision makers within their company. The 15 most feasible projects will be sent on a study visit to Brussels.